MediaAlpha (NYSE:MAX) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen has downgraded MediaAlpha (NYSE:MAX) from a "buy" to a "hold" rating, indicating a shift in analyst sentiment.
• MediaAlpha's stock price has seen fluctuations, with recent research reports adjusting price targets, ranging from $12.50 to $18.00.
• Despite the downgrade, MediaAlpha reported a strong 41.1% year-over-year revenue increase for the latest quarter, exceeding analyst expectations.

MediaAlpha (NYSE:MAX - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued reports about the company. Royal Bank Of Canada reduced their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods reduced their price objective on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reduced their price objective on MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.92.

MediaAlpha Stock Performance

NYSE MAX traded up $0.45 during trading hours on Friday, hitting $10.28. 244,591 shares of the company traded hands, compared to its average volume of 497,765. The business's 50-day moving average is $10.56 and its 200-day moving average is $10.08. MediaAlpha has a twelve month low of $7.33 and a twelve month high of $20.91. The stock has a market capitalization of $688.73 million, a price-to-earnings ratio of -85.71 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%. The firm had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The business's quarterly revenue was up 41.1% compared to the same quarter last year. Analysts predict that MediaAlpha will post 0.48 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, CRO Keith Cramer sold 20,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total transaction of $194,600.00. Following the sale, the executive owned 167,200 shares in the company, valued at $1,626,856. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathy P. Vrabeck bought 31,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $9.60 per share, for a total transaction of $297,600.00. Following the transaction, the director owned 129,657 shares of the company's stock, valued at approximately $1,244,707.20. This represents a 31.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,669 shares of company stock valued at $297,873. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of MediaAlpha by 54.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,298 shares of the company's stock worth $381,000 after purchasing an additional 14,871 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after purchasing an additional 2,896 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of MediaAlpha by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock worth $40,908,000 after purchasing an additional 169,654 shares during the last quarter. Virtus Investment Advisers Inc. bought a new stake in shares of MediaAlpha in the fourth quarter worth about $172,000. Finally, Millennium Management LLC grew its stake in shares of MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock worth $8,821,000 after purchasing an additional 372,305 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.